GBP/USD: DAILY ELLIOT WAVE ANALYSIS(WAVE 4)
GUIDELINES
1. Alternation - Wave 2 of the grand supercycle is sideways and therefore wave 4 is supposed to be sharp.
2. Ratio analysis - Wave 4 is usually at a fib ratio 0.382 of the whole 5 wave motive cycle.
3. Channeling- The target for wave 5 is at the top of the parallel channel touching wave 1 and3
4. Equality - when wave 3 is extended wave 1 and wave five tend to move almost the same magnitude
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1. Alternation - Wave 2 of the grand supercycle is sideways and therefore wave 4 is supposed to be sharp.
2. Ratio analysis - Wave 4 is usually at a fib ratio 0.382 of the whole 5 wave motive cycle.
3. Channeling- The target for wave 5 is at the top of the parallel channel touching wave 1 and3
4. Equality - when wave 3 is extended wave 1 and wave five tend to move almost the same magnitude
Comment, like, and follow for more
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